Stellar and Baracoin to Bring Financial Services to Africa

Stellar partnered with Africa's digital currency aiming to create a low cost border free network and get the country out of poverty
06 February 2018   1007

Stellar is a platform that connects banks, payments systems, and people aiming to move money quickly, reliably, and at almost no cost. On February 6 Stellar has announced its partnership with Baracoin, which is Africa’s Digital Currency created to provide a state of the art economic ecosystem and deliver modern financial services, from Cape to Cairo, at low cost and to the benefit of both trader and customer.

The partnership is aimed at building a low-cost, border free network that will connect underbanked African merchants and customers through blockchain technology.

As it was stated in Baracoin announcement, Stellar is dedicated to providing low-cost financial access to the unbanked all around the world, and transactions on the Stellar network cost very low, which will allowing Baracoin to lower the cost it passes on to its customers in service charges.

Speaking with the Stellar head of partnerships, Mr Ladipo over the past few weeks, I’ve seen just how committed they are to providing high quality financial services in Africa and have no doubt that this will be a long and fruitful partnership.
 

Dr Robert Maweni
CEO, Baracoin

Moreover, Stellar was chosen by Baracoin company because of its technical advantages as it is capable of processing 1000 operations every second, with a latency of just 2–5 seconds, and also can protect customers against scams and bad purchases.

At the moment of press, these are main market parameters of Stellar:

Average price: $0,273688 
Marketcap: $5 044 611 863 
24h volume: $324 690 000

Coinfly to Add Bitcoin Cash, Bitcoin SV & Stellar

Company re-branded its trading platform for individual users - the part that was previously available as “Buy and Sell” will now be called “Mycoinify”
12 February 2019   156

Coinify, the leading European Bitcoin buying and selling platform and payment service provider, added support for three new assets, giving users the opportunity to buy Bitcoin Cash, Bitcoin SV and Stellar via bank transfers and credit cards. This is reported by Bitcoin.com.

BCH, BSV and XLM trading will start on Tuesday, February 12, and as Coinify co-founder and CEO Mark Hoigord said, adding new cryptocurrencies has become part of a broader plan, according to which the company intends to maintain 15 digital assets by the end of the year.

At the same time, the company based in Copenhagen re-branded its trading platform for individual users - the part that was previously available as “Buy and Sell” will now be called “Mycoinify”.

According to company representatives, this rebranding is designed to more clearly distinguish between payment products that Coinify offers companies from B2C-service for individuals.

Pia Skafte Johansen, Director of Payment Solutions, emphasized that Mycoinify will target end-users, offering them a simple and compliant regulator platform for purchasing various virtual currencies.

Coinify has been present on the market since 2014, and besides the possibility of buying cryptocurrencies, it also offers processing services, by the end of 2015 supporting payments in 16 digital currencies. In 2016, Coinify announced the successful completion of a residential real estate transaction for bitcoins in Denmark. The deal is the first of its kind not only in this country, but also in the whole Scandinavian region.

Last year, the company added the possibility of buying via bank transfers and Ethereum cryptocurrency credit cards.